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I did this in a wall about as thick (poss more, I couldn’t reach my arm through) at my brother’s. I started with a hole saw: failure. I ended with multiple SDS holes and then using the SDS with a big chisel head as a breaker, then back to the super long drill bit. It was hard work but eventually I could fit a 125mm pipe through it and the extractor fan transformed the bathroom. Which has a no window and did have a damp problem.
Yes an extractor is my current conundrum as I'd need open a hole for one in 80cm thick walls. Humidity isn't really an issue here however, and we don't have an extractor in current bathroom and have no issue...
I'll raise floor so sound insulation isn't an issue. Thanks for tip.